KUALA LUMPUR: Public Mutual, a wholly owned subsidiary of PUBLIC BANK BHD [], is launching a new fund ' Public Indonesia Select Fund (PINDOSF) ' on Sept 1, 2010.
The fund invests in a diversified portfolio of blue chips, index stocks and growth stocks primarily in the Indonesian market, with up to 30% of its net asset value (NAV) invested in the Malaysian and other global markets.
In a statement Wednesday, Aug 25, Public Mutual chief executive officer Yeoh Kim Hong said Indonesia, which had the largest economy in South East Asia, was poised to be one of the fastest growing economies in Asia after China and India.
"Supported by the fourth largest population in the world and rich in resources, the Indonesian market offers good long-term capital growth opportunities," she said.
She said that Indonesia charted a healthy growth rate averaging 5.1% per annum over the 2000-2009 period as it was underpinned by resilient domestic demand and a series of economic reforms.
"Due to its large domestic base, Indonesia's economic performance is envisaged to be more resilient than other economies in the event of slower global growth," she said.
Yeoh said PINDOSF would focus on sectors which include banking & finance, commodities, building materials and consumer.
"The banking & finance sector in Indonesia has experienced strong growth in loans and financial services, whereas strong output growth is projected for its commodities sector.
"Meanwhile, the building materials sector benefited from sustained infrastructure spending, and improved purchasing power has benefited the consumer sector," she said.
PINDOSF's equity exposure will generally range from 75% to 98% of its NAV. The fund is a niche product suitable for investors with aggressive risk appetite who wish to capitalise on the long-term growth prospects of the Indonesian market.
The initial issue price of PINDOSF is RM0.2500 per unit during the 21-day initial offer period from Sept 1-Sept 21, 2010.
The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.
During the offer period, special promotional service charges as low as 5% of initial issue price per unit are extended to the purchase of units of PINDOSF.
Investors who opt for Direct Debit Instruction with PINDOSF during the offer period will enjoy a special promotional service charge of 5.25% of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply.
Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6207 5000 for more details of the fund.
Public Mutual is Malaysia's largest private unit trust company with 79 funds under management.
It has over 2,320,000 accountholders and as at July 30, 2010, the total net asset value of the funds managed by the company was RM37.8 billion.
The fund invests in a diversified portfolio of blue chips, index stocks and growth stocks primarily in the Indonesian market, with up to 30% of its net asset value (NAV) invested in the Malaysian and other global markets.
In a statement Wednesday, Aug 25, Public Mutual chief executive officer Yeoh Kim Hong said Indonesia, which had the largest economy in South East Asia, was poised to be one of the fastest growing economies in Asia after China and India.
"Supported by the fourth largest population in the world and rich in resources, the Indonesian market offers good long-term capital growth opportunities," she said.
She said that Indonesia charted a healthy growth rate averaging 5.1% per annum over the 2000-2009 period as it was underpinned by resilient domestic demand and a series of economic reforms.
"Due to its large domestic base, Indonesia's economic performance is envisaged to be more resilient than other economies in the event of slower global growth," she said.
Yeoh said PINDOSF would focus on sectors which include banking & finance, commodities, building materials and consumer.
"The banking & finance sector in Indonesia has experienced strong growth in loans and financial services, whereas strong output growth is projected for its commodities sector.
"Meanwhile, the building materials sector benefited from sustained infrastructure spending, and improved purchasing power has benefited the consumer sector," she said.
PINDOSF's equity exposure will generally range from 75% to 98% of its NAV. The fund is a niche product suitable for investors with aggressive risk appetite who wish to capitalise on the long-term growth prospects of the Indonesian market.
The initial issue price of PINDOSF is RM0.2500 per unit during the 21-day initial offer period from Sept 1-Sept 21, 2010.
The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.
During the offer period, special promotional service charges as low as 5% of initial issue price per unit are extended to the purchase of units of PINDOSF.
Investors who opt for Direct Debit Instruction with PINDOSF during the offer period will enjoy a special promotional service charge of 5.25% of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply.
Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6207 5000 for more details of the fund.
Public Mutual is Malaysia's largest private unit trust company with 79 funds under management.
It has over 2,320,000 accountholders and as at July 30, 2010, the total net asset value of the funds managed by the company was RM37.8 billion.
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